With Bitcoin being one of the most volatile Cryptocurrencies to invest your money in, what are the people looking at now? There are now more than 1,500 cryptos - Bitcoin, Bitcoin Cash, Ethereum, Litecoin to name just a few - being traded on about 190 exchanges around the world. Prices have soared and crashed alarmingly. In 2017 the price of a bitcoin rocketed to nearly $15,000 before losing two-thirds of its value in just a few months. It's currently worth about $5,000.
"SHOULD YOU BURN YOUR FINGERS TOUCHING BITCOIN?"
This volatility may be a speculative trader's friend, but it has reinforced cryptos' reputation for being high-risk investments for the adrenalin-fuelled "get rich quick" brigade. So a growing number of crypto start-ups are developing alternatives known as stablecoins, digital tokens pegged to traditional fiat currencies such as the US dollar, British pound or Japanese yen, with the aim of reducing this volatility and increasing confidence.
Hong Kong-based Tether has blazed a trail in this market, swapping about $2.7bn (£2.1bn) worth of fiat currency into its eponymous digital tokens. It claims to have all its digital tethers backed by traditional money in its bank accounts - a claim that has been disputed by some.
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